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Banking Operations

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Banking Operations

This is a new regulatory statute since 2012, and covers all banking activities, especially, in our case, that of credit.

As such therefore, we source, present and recommend the loans and mortgages that the most appropriate for our clients, whether buying in France a main residential home, or a secondary residency.

It should be noted that foreigners are exempt from having a loan guarantee – which French nationals need – and to this end the market is totally different to that for French nationals resident in France.
France also favours more ‘repayment’ loans rather than ‘interest-only’ ones, though of course offers capped schemes and other more specialist schemes such as buy-to-let mortgages.

Also, due to the absence of the ‘guarantee’, it is true that sometimes on ‘interest-only’ loans, the French lenders do sometimes request a cash deposit.

The amount to be borrowed, whilst essentially the same as the UK, is however based on a different criteria, being that the monthly cost of the loan cannot be more than one-third of the net, after-tax, personal income after the inclusion of the premiums of other loans.

Needless to say that we also source credit for business purposes.

It is also true that under this heading we can provide high-interest deposit-based fixed-term returns, such as 6{57d17e0231fe614111c687475efda7be3a1dbccb4375d4d957c37ec4fb09e465} over one year, 6,5{57d17e0231fe614111c687475efda7be3a1dbccb4375d4d957c37ec4fb09e465} over two years and 7{57d17e0231fe614111c687475efda7be3a1dbccb4375d4d957c37ec4fb09e465} over three years.